(MENAFN- ProactiveInvestors)
' () focus on its 100% owned Gorno Zinc Project in northern Italy is continuing apace as an expanded exploration program will start in June.
Energia has granted title over the Gorno project which saw significant quantities of developed but unmined zinc mineralisation remaining when Italian oil and gas major ENI closed the operation in 1985.
There are no third party royalties other than a 1% NSR royalty payable to Berghem Mines & Tech SRL on any zinc production.
Rehabilitation of historical underground workings is underway at Gorno with the objective of converting 3-5 million tonnes of an Exploration Target of 6-10 million tonnes grading 7-10% Zn + Pb into JORC resources.
Gorno was mined until 1978 producing 800000 tonnes of zinc metal contained in high quality; course grained 55-58% zinc concentrates from a recorded throughput of 6 million tonnes at a tidy 14.5% grade zinc.
Resource drilling is set to start in July in preparation for the JORC resource estimate in the December quarter.
Sifting through the Beramo State historical archives has paid off for Energia identifying drill intersections of up to 27.2 metres at 11.5% Zn+Pb and 22.4 metres grading 10.2% Zn+Pb further highlight Gorno’s potential.
The plan is to bring the 100% owned high-grade Gorno Zinc Project into production during 2017 and produce a high quality zinc concentrate.
Energia is also with $5.7 million in cash courtesy of a $8.1 million capital raising in 2014.
The company's Carley Bore uranium project in Western Australia may be independently funded depending on deliberations regarding future work programs.
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